- LINK holds a key 11-month trendline, signaling structural strength amid recent volatility.
- Analysts target $20, $25, and $31 if volume increases and bullish momentum returns.
- RSI and MACD remain neutral, hinting at a potential large directional move ahead.
After weeks of downward pressure and mixed market sentiment, LINK is showing renewed strength by defending a trendline that has held since June 2023. Analysts observing this development suggest that this consistent support structure could set the stage for a meaningful reversal toward higher price targets, with $31 on the radar.
Long-Term Support Structure Holds Amid Volatility
According to analysis prepared by Crypto Claws on X, LINK has maintained its year-long uptrend with precision. The asset recently bounced from a key trendline support, which has remained intact for over 11 months.
Despite recent volatility, LINK’s price action has consistently found buyers at this level, reinforcing market confidence in its structural resilience. A similar outlook was presented by a trading analyst under the name Bulbasaur.eth, who noted that both the RSI and MACD readings remain neutral.
The Relative Strength Index is holding around the 50 mark, and the MACD histogram has flattened, signaling a balance between buyers and sellers. These conditions often precede a large directional move, as market participants wait for confirmation.
Technical Patterns Support a Potential Move Toward $31
Further analysis shows that LINK recently retraced to the 0.618 Fibonacci level, recovering just above the 0.5 level, a move some view as classic bullish structure. The asset’s retrace aligns with the principles of Elliott Wave alternation, suggesting that the current setup may mirror a prior accumulation phase between July and November 2024.
According to an observation by Nehal on X, LINK may be “gearing up for a reversal” as the pattern matures. Price predictions vary, but if bullish momentum returns, analysts believe $20 is a short-term hurdle.
Beyond that, $25 and $31 are viewed as realistic medium-term levels, contingent on volume and broader market conditions. LINK is trading at $13.61 as of this writing, having regained its footing above major moving averages and showing signs of consolidation near a potential breakout zone.
